Baytex Energy Corp T.BTE

SPR release effect

[1234bmth]

This effect on the oil price will be very short lived, may be a week or max 2, the important factors are demand and production, what if demand increases by another million or more b/d as air travel is picking up and driving season is a head. Would Biden administration be able to release another million b/d? Of course not. This is just a political game to tell Americans that we are trying to reduce the gas price.
If demand decreases or production is increased more than demand then the price of oil will stay low for longer.

[topdown99]

Biden's jawboning might lower prices short term , only because the media will tell any left wing lies they are told to push . But read the story , once again nothing has been decided (only talked about) . OPEC+ is pissed with US hypocracy and this will do nothing to spur domestic production . As I watch world events unfolding you see just how much is spin there is and how little is actual fact

[topdown99]

What really makes me laugh is the fact that the alarms of a few crying that the sky was falling or that the wolf was at the door have been debunked time after time . Instead of stampeding the sheep , it appears the sheep just slept in realizing its just another false alarm . I expect a green screen by the end of the day and look at the bright side , old Joe won't even remember what SPR stands

[MoCH44]

I am thinking that the SPR release is a good thing for us oil investors, it may be delaying the inveitable but gets us through a critical period without initiating demand destruction. Maybe this is the best way to provide time to rebalance the global supply and get a little bit more production on the market. If $100 oil is here to stay I am loving it.   MoCH4

[BayStreetWolfTO]

MOC, Something to think about...SPR and bullish factors While maybe a simple view. The SPR release might prevent near term demand destruction which is why I'm positive on it..(bears hate this as they were hoping demand destruction was kicking in) The SPR release will continue to force North American producers to temper Drilling (will impact drill, drill drill) The SPR release

[MoCH44]

Wolf,  Agreed. Also, thanks for the information you provide, I am invested in MEG, ATH and BTE and follow the boards quitley. Your insights and the work you put in are much appreciated.   MoCH4 

[jleer42]

My understanding is that the SPR is similar to WCS heavier higer sulfer crude. Could this widen the WCS/WTI differential?

[BayStreetWolfTO]

The other item to consider is refinery utilization...normally we see ramping up April through Summer...this is why we needed builds early Sept-Mar When refineries are running full steam there is not much bandwidth. We will soon find out next week when the EIA reports again as we start spring/summer.

[arizonabound]

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[arizonabound]

This post has been removed in accordance with Community Policy